The three-bedroom, 5,000 square-foot estate -- built in the 1920s -- was recently renovated and boasts a blue stone terrace and a massive outdoor fireplace. "It's an incredible house," a source close to the 21-year-old Grammy winner tells the new Us Weekly.

"Taylor's been visiting her parents there and she's so excited for them."

The Swifts are not the only ones in need of a change-of-address form. Their famous daughter, who splits her time between Nashville and California, "just bought a beautiful home for herself in L.A.," adds another source.